In order for you to use the Shyft App, you must be a permanent South African Resident or a Foreign National, older than 18 (eighteen) and hold a current or savings account with Standard Bank. We must also have all information and documentation from you required by FICA.
Do I need a Standard Bank account to sign up for Shyft?
Yes, you require a Standard Bank current or savings account. However, if you do not have an account with Standard Bank, you can follow the sign-up process for new-to-bank customers. Once you have submitted your details, a consultant will phone you and guide you through the process of opening up an account with Standard Bank.
What does Shyft cost?
The app is free, but minimal charges apply for certain transactions. Charges are clearly shown before each transaction, so you will always know exactly how much you are spending.
How do I reset my password?
If you have already logged in to the app and want to change your password, open the menu icon in the top left of the screen and select “Reset password” on the dropdown menu. If you have forgotten your password, use the "Forgot Password" link from the login screen to set a new password. You will need the answers to your secret questions to do this.
How can I update my address or other personal details?
Please send an email with a copy of your ID and proof of address to shyftoperations@standardbank.co.za. You will receive confirmation once your details are updated.
ZAR Wallet Top Ups
How do I get Rands into my ZAR Wallet?
You will need to do an electronic funds transfer (EFT) into the Shyft bank account. Go to your ZAR wallet on the app and tap on "Topup your ZAR Wallet" for further details. Remember to use your unique reference number when doing your EFT so that your payment can quickly be assigned to your wallet balance.
I cannot find my unique reference number. Where do I find it?
You would have been given your unique reference number in the activation email you received when you registered for Shyft. You can also view your unique reference number in your Profile section of the app, or by clicking on the “Top up” button on the ZAR currency page.
I have done an EFT, but the funds are not showing in my ZAR wallet. What can I do?
Please send your proof of payment to support@getshyft.co.za and we will assist in tracing your payment and allocate it to your ZAR wallet. Please ensure that you have correctly entered your unique reference number. This can be found in the Profile section of the app.
If you did an EFT from a bank other than Standard Bank, you can expect your funds to reflect within 2 business days, as per standard transfer times. If the funds are still not reflecting after this period, please send you proof of payment to support@getshyft.co.za.
How do I get a refund of the funds in my ZAR wallet?
Select the ZAR currency page, click “request refund”, enter the amount you would like to have refunded and confirm the refund request. Please note an administration fee of R35 will be added to the total refund amount. The refund will only be processed to the Standard Bank account you used when signing up for Shyft.
Can I make a cash deposit to my Shyft ZAR wallet?
No, Shyft does not allow for cash deposits to fund your ZAR wallet. Please make an EFT to the Shyft account, using your unique Shyft reference number as the beneficiary reference.
Buy Foreign Currency
What is an SDA?
The Single Discretionary Allowance (SDA) is a limit set by the South African Reserve Bank (SARB).
For permanent South African residents with a valid South African ID, the SDA limits you to a total of R1 million for 'offshore activities' each calendar year. This applies to all your transactions and not just those in Shyft. It is your responsibility to make sure you stay within this limit.
As a foreign national, you may not buy Foreign Currency with funds that you brought into the country or which are ring-fenced. Only funds which you have received or earned in South Africa can be used. You are also only able to buy Foreign Currency during the period for which there is a valid work permit and in accordance with the limits applicable to you, as calculated at the time of your Standard Bank account.
What is the BOP, BOP Category Code 511 04 and BOP Category Code 417?
BOP, also referred to as Balance of Payments, are reports provided to the South African Revenue Services and/or the Financial Intelligence Center to notify them of all funds that has left the country as well as the reason for it.
For permanent South African residents with a valid South African ID, all Shyft transactions are reported under the BOP Category Code of 511 04 - Foreign investment by a resident individual not related to the investment allowance – Deposits with a foreign bank.
For Foreign Nationals, all Shyft transactions are reported under the BOP Category Code of 417 - foreign national contract worker remittances, excluding compensation.
How do I know if I've exceeded my SDA limit through Shyft?
If you exceed your R1million limit in Shyft, you will be blocked from transacting for the rest of the calendar year. But remember, that you are responsible for ensuring that you do not exceed your limit across other products too. You can see the amount of foreign currency you have purchased on Shyft in the Profile section of the app.
As a foreign national, if your work permit becomes invalid or expires, or if you reach your limit in terms of the amount of funds you are able to externalize, you will not be able to purchase any further foreign currency through Shyft. However, you will still be able to make use of the foreign currency you have already purchased to make international payments and spend on your virtual and/or physical cards.
How do I buy currency?
Once you have loaded Rands into your ZAR wallet, select the transact button in the middle of the navigation panel, select “Buy Foreign Currency”, select the currency and amount and confirm the purchase.
How much does it cost to buy foreign currency?
Standard Bank charges a fee on all foreign exchange transactions. This is included as part of the live rate that you are quoted in the process of purchasing foreign currency. The price you see is the price you pay and there are no additional costs for purchasing foreign exchange through Shyft.
How do I convert my foreign currency to ZAR?
You will need to create your South African bank account as a beneficiary on the app. You can then make an international payment to your account. This transfer will be treated as a normal international payment and the amount will be converted to ZAR when it reaches your account. This transfer may incur the same payment fee for an international payment and conversion fees may be applied by the receiving bank when the foreign currency is converted to ZAR. Correspondent banking fees may also apply. Please note that these additional fees are not fees charged by Shyft. Shyft is in no way responsible for the exchange rate at which the funds are converted once the funds reach the South African account, nor for the conversion fees that may be applied. If you have any queries regarding payments made to your South African account, please contact the inwards payment department of your bank.
Do I get UCount Tiering Points when using Shyft?
Yes, you can collect 50 Tiering Points when you Top Up your ZAR wallet and purchase R7500 worth of forex within a 12-month rolling period.
Send Money
How do I add a beneficiary?
Click the transact button in the navigation panel, click “Send Money”, select “add beneficiary”, choose the type of account you would like to transfer to, then enter the relevant information into the fields in order to create the beneficiary.
How much does it cost to send money to a foreign bank account?
International payments are charged at a flat fee per transaction. This fee varies depending on the currency being sent. For transfers to standard international bank accounts, the following fees apply:
USD payments - USD 14.00;
GBP payments - GBP 10.00;
EUR payments - EUR 12.00; and
AUD payments - AUD 18.00.
For international payments to Standard Bank Isle of Man, Jersey and Webtrader beneficiaries created using the pre-loaded beneficiary creation flow, the following fees apply:
USD payments - USD 10.00;
GBP payments - GBP 8.00;
EUR payments - EUR 9.00; and
AUD payments - AUD 13.00.
Shyft keeps you in control by showing exactly how much each transaction will cost before you make the payment.
I would like to transfer funds to my Standard Bank Isle of Man and/or Jersey account. How do I do so?
Click the transact button in the navigation panel, click “Send Money”, then select “Standard Bank Isle of Man / Jersey” as the beneficiary account type. You will only need to enter your offshore account number and your reference in order to create your Standard Bank Isle of Man and/or Jersey account.
Can I transfer funds to my Webtrader account using Shyft?
Yes. To do so, choose ‘Webtrader’ as the beneficiary account type when creating a beneficiary. You will then need to select the currency you will be transferring and enter your Webtrader reference number. Your Webtrader beneficiary reference ensures that your funds are automatically allocated to your trading account. It will either be:
A 7 digit numeric reference; or
A 10 character alphanumeric reference, ending in either USD, GBP or EUR
Does the beneficiary have to pay any fees?
If you pay in a currency that is not the domestic currency of the country of the beneficiary’s bank, the recipient may receive less than what you’ve sent. Intermediary banks are likely to levy additional charges and the receiving bank is likely to convert the payment to a local currency, which means that the amount received cannot be predicted.
How much money can I send?
Payments to international bank accounts are limited in the size of transaction:
USD: 75,000;
GBP: 55,000;
EUR: 60,000; and
AUD: 90,000.
Users who are permanent South African residents with a valid South African ID can transfer a maximum of R1mil per a calendar year.
If you are a Foreign National, you may not make an International Payment with funds you brought into the country or which are ring- fenced. In addition, only funds which you have received or earned in South Africa can be used.
How will I know when my international payment has been sent?
You will receive an email when the payment has been sent. This email may take a few days (up to 3 working days) to arrive. This does not confirm receipt of funds by the beneficiary, only sending of the payment. Only your beneficiary or their bank is able to confirm the actual receipt of the funds.
How do I find a BIC/swift code/IBAN?
The beneficiary that you are paying should be able to provide those details for you.
I am uncertain of what I need to enter into some of the fields?
IBAN: International Bank Account Number. This is used to identify the bank you are sending money to. Do not enter spaces between characters. Ensure that you have right code from the beneficiary.
BIC SWIFT: Business Identifier Code & SWIFT code. You will need to get the code from the beneficiary, and is bank specific. Do not enter spaces in between characters. Ensure that you have the correct code from the beneficiary.
ABA: Routing transit number. This is used to identify financial institutions in the USA. Do not leave spaces in between characters. Ensure that you have the correct code from the beneficiary. There are three potential types of routing number. Please ensure you use the Electronic payment Routing Number, or the FedACH routing number. Do not use the Wire transfer routing number as US payments are sent from within the US and may be returned as a result.
Sort Code: This is a six digit number that identifies the bank and the branch of the bank. Do not leave spaces in between characters. Ensure that you have the correct code from the beneficiary.
BSB code: A BSB (Bank-State-Branch) is a six-digit number that identifies banks and branches across Australia. Do not leave spaces in between characters. Ensure that you have the correct code from the beneficiary.
Can I cancel a payment to a beneficiary?
It is not always possible to cancel a beneficiary payment, depending on how far along the payment has progressed. Contact the support team via the in-app chat if you need to cancel a payment and they will be able to let you know if it's possible.
The country I want to send money to isn't appearing on the list when adding a beneficiary. Why?
The countries that appear on the list are countries where payments are allowed to be sent.
What type of payments are not permitted?
As a guideline, payments to beneficiaries for the following purposes are not permitted:
· Payments for the purpose of gambling (Paying gambling institutions);
· Any and all purchases related to arms dealing;
· Adult entertainment of any kind; and
· Purchasing of drugs/drug paraphernalia.
Can I fund my crypto currency trading account using Shyft?
No, all payments for the purpose of purchasing crypto currency will be unsuccessful as they currently fall outside of our risk appetite.
I would like to do a USD payment to a beneficiary in the USA. Which ABA number should I use?
USD payments to a beneficiary in the USA are made through the domestic ACH network and fall under the category of electronic payment (often referred to as direct deposit or ACH payments). These payments are not wire payments. Please ensure to enter the ABA number for direct deposit or ACH payment in the ABA field when creating a beneficiary. If you make use of the wire ABA number, this will result in the payment failing. Due to the nature of ACH payments, we unfortunately cannot recall or put a trace on any payments made through the ACH network.
Virtual Cards
What is a virtual card?
Virtual cards are not physical cards and are used for online shopping on international websites. It operates just like any other credit card and is available for each of the supported currencies; USD, AUD, GBP and EUR.
Can I use my virtual card in South Africa?
No, the virtual card cannot be used on South African sites. Doing so would incur conversion fees and negate the benefits of the virtual card.
Does the virtual card work with 3D Secure sites?
Yes, virtual cards support 3Dsecure websites. You have to ensure that your 3D Secure code is set on the virtual card before it is used.
What is the difference between disabling and deleting a card?
Disabling a card only deactivates it temporarily until you decide to re-enable it. Once re-enabled, the card can be used again. Deleting a card deactivates the card permanently. A deleting card is cancelled and cannot be reactivated or used again.
How do I change my 3D secure code?
To change the 3D secure code, click on the virtual card icon, then click the 3 vertical dots in the top right hand corner of the screen, then click "change 3D secure code".
What is the difference between disabling and deleting a virtual card?
Disabling a card only deactivates it temporarily until you decide to re-enable it. Once re-enabled, the card can be used again. Deleting a card deactivates the card permanently. A deleting card is cancelled and cannot be reactivated or used again.
Does Shyft charge a fee to use my virtual card?
No, Shyft does not charge any fees for transacting with the virtual card online. There are also no fees charged for topping up the virtual card.
Can I link my virtual card to Uber?
Unfortunately, the virtual card is not currently supported by Uber, as they do not accept prepaid cards as a form of payment.
How do I know when my virtual cards are expiring?
Your virtual cards are grouped according to expiration status i.e. whether they are “Valid” (green), “About to Expire” (orange) or “Expired” (red).
When a Virtual card is due to expire in 30 days, you will be notified via email and the card status will change to “About to expire”.
When a virtual card has expired, you will be notified via email and the full balance on the card will be automatically transferred from the card to your currency wallet.
You can view your expired cards and get statements for expired cards by selecting the “Expired Cards” option on the side menu screen.
What is the expiry date on a virtual card?
Virtual cards expire 5 years after they are created.
How do I get a statement for my virtual card?
To get a card statement, please do the following:
-Select the relevant card in your currency wallet;
-Click the gear icon in the top right hand corner of the screen;
-Click "Virtual Card Statement”;
-Select the date range you would like the statement for;
-The statement will be emailed to you.
Physical Cards
How do I order a physical card?
Once logged in on the Shyft application and in your wallet, tap on the “Order Physical Card” button. Ensure that you complete all the required fields to have your card delivered to you.
Can I order multiple physical cards?
Yes, each user can order and link up to 3 physical cards. Simply select how many cards you would like to order on the card order screen.
How much does it cost to order a physical card?
The current card fee is R120.00 (incl. VAT) per a card. This is subject to change without notice.
How do I link my Physical Card?
Once you receive your card, login to the app and on the wallet screen, tap the “Link a Physical Card” button. Add the 16-digit number as displayed on the card and tap ok. Once added, you are able to load funds from your foreign exchange wallets to the card and start using it.
How long will it take to get my physical card?
Delivery within major metropolitan areas should be within three business days.
Delivery outside of major metropolitan areas should be within five business days.
How much are the ATM withdrawal fees?
ATM withdrawal fees are charged at a flat rate per a withdrawal. The fees are as follows:
USD: 3.3;
GBP: 2.2;
EUR: 3.3; and
AUD: 4.8.
What are the daily card limits?
POS transactions:
The physical card can be used for a maximum of 25 POS transactions per a day. The sum of the transactions per a day are limited to the following amounts:
USD:13 000;
GBP: 10 000;
EUR: 11 500; and
AUD: 17 000.
ATM withdrawals:
The physical card can be used for a maximum of 12 ATM withdrawals per a day. The sum of the withdrawals per a day are limited to the following amounts:
USD: 2500;
GBP: 1500;
EUR: 2100; and
AUD: 3750.
What are the tap-and-go limits on the card?
Tap-and-go transactions are limited to the following amounts per a transaction:
USD: 50;
GBP: 30;
EUR: 50; and
AUD: 100.
Are there any fees for swiping my physical card?
No, Shyft does not charge any transaction fees for swiping the physical card.
Which ATMs should I use to withdraw cash?
Only withdraw cash from from well-known banks & avoid unbranded or stand alone ATMs.
If prompted by the ATM, never accept conversions to or from a currency that is not loaded on your physical card.
What should I do if my card is not working?
First check that you have topped up the card by transferring funds from your currency wallet to the card. In order to top up your physical card, click the "top up" button next to the physical card icon in the app and select the amount you would like to top the card up with.
If the card stops working, please immediately contact support via the in-app chat or via email at support@getshyft.co.za. Please provide support with the date of the failed transaction, the amount and the name of the merchant/ATM.
How do I change my card pin?
To change the pin, please do the following:
Login to Shyft;
Select the physical card icon in your currency wallet;
Click the 3 dots in the top right-hand corner of the screen; and
Click "change pin”.
What is the difference between disabling and deleting a physical card?
Disabling a card only deactivates it temporarily until you decide to re-enable it. Once re-enabled, the card can be used again. Deleting a card deactivates the card permanently. A deleting card is cancelled and cannot be reactivated or used again.
What should I do if my card is lost or stolen?
Immediately stop the card in the Shyft app by clicking on the card icon, clicking the 3 dots in the top right-hand corner of the screen and select “delete card”. You will then be able to order a new card by clicking on the “order physical card” button.
If the lost/stolen card has been used fraudulently, please contact support and provide them with the details of the fraudulent transactions.
How do I get a statement for my physical card?
To get a card statement, please do the following:
-Select the relevant card in your currency wallet;
-Click the gear icon in the top right hand corner of the screen;
-Click "Physical Card Statement”;
-Select the date range you would like the statement for;
-The statement will be emailed to you.
Security
I lost my phone. What should I do?
Please download the app on a new phone and reset your password immediately.
I'm a little concerned that someone found out my password. What should I do?
Open the application and change your password immediately. To do so, tap on the three lines on the top left corner of the app (menu), and tap on Profile. Scroll down till you see “Change Password”, and tap on it. Put in your old password, enter a new password and confirm the new password followed by tapping on the change password button. **Please ensure that your password is not shared with anyone**
Contact Us
I am stuck, and my question is not answered in this FAQ. How do I get more assistance?
You can reach us via the Live Chat directly from the Shyft app.
To start the Live Chat, tap on the question mark icon in the top right corner of the screen.
Alternatively, you can leave a message for us from the Contact Us page on the Website (getshyft.co.za).
Our consultants are available from 9am to 5pm, Monday - Friday.
Can I speak to a support agent over the phone?
You can request a call back by clicking on the Support icon in the navigation bar, then click the “Request support call back” button. Please fill in your details and the nature of the request, and a support agent will call you back within 24 hours. All requests will be dealt with on a priority basis.
Get Started
Who can sign up for Shyft?
In order for you to use the Shyft App, you must be a permanent South African Resident or a Foreign National, older than 18 (eighteen) and hold a current or savings account with Standard Bank. We must also have all information and documentation from you required by FICA.
Do I need a Standard Bank account to sign up for Shyft?
Yes, you require a Standard Bank current or savings account. However, if you do not have an account with Standard Bank, you can follow the sign-up process for new-to-bank customers. Once you have submitted your details, a consultant will phone you and guide you through the process of opening up an account with Standard Bank.
What does Shyft cost?
The app is free, but minimal charges apply for certain transactions. Charges are clearly shown before each transaction, so you will always know exactly how much you are spending.
How do I reset my password?
If you have already logged in to the app and want to change your password, open the menu icon in the top left of the screen and select “Reset password” on the dropdown menu. If you have forgotten your password, use the "Forgot Password" link from the login screen to set a new password. You will need the answers to your secret questions to do this.
How can I update my address or other personal details?
Please send an email with a copy of your ID and proof of address to shyftoperations@standardbank.co.za. You will receive confirmation once your details are updated.
ZAR Wallet Top Ups
How do I get Rands into my ZAR Wallet?
You will need to do an electronic funds transfer (EFT) into the Shyft bank account. Go to your ZAR wallet on the app and tap on "Topup your ZAR Wallet" for further details. Remember to use your unique reference number when doing your EFT so that your payment can quickly be assigned to your wallet balance.
I cannot find my unique reference number. Where do I find it?
You would have been given your unique reference number in the activation email you received when you registered for Shyft. You can also view your unique reference number in your Profile section of the app, or by clicking on the “Top up” button on the ZAR currency page.
I have done an EFT, but the funds are not showing in my ZAR wallet. What can I do?
Please send your proof of payment to support@getshyft.co.za and we will assist in tracing your payment and allocate it to your ZAR wallet. Please ensure that you have correctly entered your unique reference number. This can be found in the Profile section of the app.
If you did an EFT from a bank other than Standard Bank, you can expect your funds to reflect within 2 business days, as per standard transfer times. If the funds are still not reflecting after this period, please send you proof of payment to support@getshyft.co.za.
How do I get a refund of the funds in my ZAR wallet?
Select the ZAR currency page, click “request refund”, enter the amount you would like to have refunded and confirm the refund request. Please note an administration fee of R35 will be added to the total refund amount. The refund will only be processed to the Standard Bank account you used when signing up for Shyft.
Can I make a cash deposit to my Shyft ZAR wallet?
No, Shyft does not allow for cash deposits to fund your ZAR wallet. Please make an EFT to the Shyft account, using your unique Shyft reference number as the beneficiary reference.
Buy Foreign Currency
What is an SDA?
The Single Discretionary Allowance (SDA) is a limit set by the South African Reserve Bank (SARB).
For permanent South African residents with a valid South African ID, the SDA limits you to a total of R1 million for 'offshore activities' each calendar year. This applies to all your transactions and not just those in Shyft. It is your responsibility to make sure you stay within this limit.
As a foreign national, you may not buy Foreign Currency with funds that you brought into the country or which are ring-fenced. Only funds which you have received or earned in South Africa can be used. You are also only able to buy Foreign Currency during the period for which there is a valid work permit and in accordance with the limits applicable to you, as calculated at the time of your Standard Bank account.
What is the BOP, BOP Category Code 511 04 and BOP Category Code 417?
BOP, also referred to as Balance of Payments, are reports provided to the South African Revenue Services and/or the Financial Intelligence Center to notify them of all funds that has left the country as well as the reason for it.
For permanent South African residents with a valid South African ID, all Shyft transactions are reported under the BOP Category Code of 511 04 - Foreign investment by a resident individual not related to the investment allowance – Deposits with a foreign bank.
For Foreign Nationals, all Shyft transactions are reported under the BOP Category Code of 417 - foreign national contract worker remittances, excluding compensation.
How do I know if I've exceeded my SDA limit through Shyft?
If you exceed your R1million limit in Shyft, you will be blocked from transacting for the rest of the calendar year. But remember, that you are responsible for ensuring that you do not exceed your limit across other products too. You can see the amount of foreign currency you have purchased on Shyft in the Profile section of the app.
As a foreign national, if your work permit becomes invalid or expires, or if you reach your limit in terms of the amount of funds you are able to externalize, you will not be able to purchase any further foreign currency through Shyft. However, you will still be able to make use of the foreign currency you have already purchased to make international payments and spend on your virtual and/or physical cards.
How do I buy currency?
Once you have loaded Rands into your ZAR wallet, select the transact button in the middle of the navigation panel, select “Buy Foreign Currency”, select the currency and amount and confirm the purchase.
How much does it cost to buy foreign currency?
Standard Bank charges a fee on all foreign exchange transactions. This is included as part of the live rate that you are quoted in the process of purchasing foreign currency. The price you see is the price you pay and there are no additional costs for purchasing foreign exchange through Shyft.
How do I convert my foreign currency to ZAR?
You will need to create your South African bank account as a beneficiary on the app. You can then make an international payment to your account. This transfer will be treated as a normal international payment and the amount will be converted to ZAR when it reaches your account. This transfer may incur the same payment fee for an international payment and conversion fees may be applied by the receiving bank when the foreign currency is converted to ZAR. Correspondent banking fees may also apply. Please note that these additional fees are not fees charged by Shyft. Shyft is in no way responsible for the exchange rate at which the funds are converted once the funds reach the South African account, nor for the conversion fees that may be applied. If you have any queries regarding payments made to your South African account, please contact the inwards payment department of your bank.
Do I get UCount Tiering Points when using Shyft?
Yes, you can collect 50 Tiering Points when you Top Up your ZAR wallet and purchase R7500 worth of forex within a 12-month rolling period.
Send Money
How do I add a beneficiary?
Click the transact button in the navigation panel, click “Send Money”, select “add beneficiary”, choose the type of account you would like to transfer to, then enter the relevant information into the fields in order to create the beneficiary.
How much does it cost to send money to a foreign bank account?
International payments are charged at a flat fee per transaction. This fee varies depending on the currency being sent. For transfers to standard international bank accounts, the following fees apply:
USD payments - USD 14.00;
GBP payments - GBP 10.00;
EUR payments - EUR 12.00; and
AUD payments - AUD 18.00.
For international payments to Standard Bank Isle of Man, Jersey and Webtrader beneficiaries created using the pre-loaded beneficiary creation flow, the following fees apply:
USD payments - USD 10.00;
GBP payments - GBP 8.00;
EUR payments - EUR 9.00; and
AUD payments - AUD 13.00.
Shyft keeps you in control by showing exactly how much each transaction will cost before you make the payment.
I would like to transfer funds to my Standard Bank Isle of Man and/or Jersey account. How do I do so?
Click the transact button in the navigation panel, click “Send Money”, then select “Standard Bank Isle of Man / Jersey” as the beneficiary account type. You will only need to enter your offshore account number and your reference in order to create your Standard Bank Isle of Man and/or Jersey account.
Can I transfer funds to my Webtrader account using Shyft?
Yes. To do so, choose ‘Webtrader’ as the beneficiary account type when creating a beneficiary. You will then need to select the currency you will be transferring and enter your Webtrader reference number. Your Webtrader beneficiary reference ensures that your funds are automatically allocated to your trading account. It will either be:
A 7 digit numeric reference; or
A 10 character alphanumeric reference, ending in either USD, GBP or EUR
Does the beneficiary have to pay any fees?
If you pay in a currency that is not the domestic currency of the country of the beneficiary’s bank, the recipient may receive less than what you’ve sent. Intermediary banks are likely to levy additional charges and the receiving bank is likely to convert the payment to a local currency, which means that the amount received cannot be predicted.
How much money can I send?
Payments to international bank accounts are limited in the size of transaction:
USD: 75,000;
GBP: 55,000;
EUR: 60,000; and
AUD: 90,000.
Users who are permanent South African residents with a valid South African ID can transfer a maximum of R1mil per a calendar year.
If you are a Foreign National, you may not make an International Payment with funds you brought into the country or which are ring- fenced. In addition, only funds which you have received or earned in South Africa can be used.
How will I know when my international payment has been sent?
You will receive an email when the payment has been sent. This email may take a few days (up to 3 working days) to arrive. This does not confirm receipt of funds by the beneficiary, only sending of the payment. Only your beneficiary or their bank is able to confirm the actual receipt of the funds.
How do I find a BIC/swift code/IBAN?
The beneficiary that you are paying should be able to provide those details for you.
I am uncertain of what I need to enter into some of the fields?
IBAN: International Bank Account Number. This is used to identify the bank you are sending money to. Do not enter spaces between characters. Ensure that you have right code from the beneficiary.
BIC SWIFT: Business Identifier Code & SWIFT code. You will need to get the code from the beneficiary, and is bank specific. Do not enter spaces in between characters. Ensure that you have the correct code from the beneficiary.
ABA: Routing transit number. This is used to identify financial institutions in the USA. Do not leave spaces in between characters. Ensure that you have the correct code from the beneficiary. There are three potential types of routing number. Please ensure you use the Electronic payment Routing Number, or the FedACH routing number. Do not use the Wire transfer routing number as US payments are sent from within the US and may be returned as a result.
Sort Code: This is a six digit number that identifies the bank and the branch of the bank. Do not leave spaces in between characters. Ensure that you have the correct code from the beneficiary.
BSB code: A BSB (Bank-State-Branch) is a six-digit number that identifies banks and branches across Australia. Do not leave spaces in between characters. Ensure that you have the correct code from the beneficiary.
Can I cancel a payment to a beneficiary?
It is not always possible to cancel a beneficiary payment, depending on how far along the payment has progressed. Contact the support team via the in-app chat if you need to cancel a payment and they will be able to let you know if it's possible.
The country I want to send money to isn't appearing on the list when adding a beneficiary. Why?
The countries that appear on the list are countries where payments are allowed to be sent.
What type of payments are not permitted?
As a guideline, payments to beneficiaries for the following purposes are not permitted:
· Payments for the purpose of gambling (Paying gambling institutions);
· Any and all purchases related to arms dealing;
· Adult entertainment of any kind; and
· Purchasing of drugs/drug paraphernalia.
Can I fund my crypto currency trading account using Shyft?
No, all payments for the purpose of purchasing crypto currency will be unsuccessful as they currently fall outside of our risk appetite.
I would like to do a USD payment to a beneficiary in the USA. Which ABA number should I use?
USD payments to a beneficiary in the USA are made through the domestic ACH network and fall under the category of electronic payment (often referred to as direct deposit or ACH payments). These payments are not wire payments. Please ensure to enter the ABA number for direct deposit or ACH payment in the ABA field when creating a beneficiary. If you make use of the wire ABA number, this will result in the payment failing. Due to the nature of ACH payments, we unfortunately cannot recall or put a trace on any payments made through the ACH network.
Virtual Cards
What is a virtual card?
Virtual cards are not physical cards and are used for online shopping on international websites. It operates just like any other credit card and is available for each of the supported currencies; USD, AUD, GBP and EUR.
Can I use my virtual card in South Africa?
No, the virtual card cannot be used on South African sites. Doing so would incur conversion fees and negate the benefits of the virtual card.
Does the virtual card work with 3D Secure sites?
Yes, virtual cards support 3Dsecure websites. You have to ensure that your 3D Secure code is set on the virtual card before it is used.
What is the difference between disabling and deleting a card?
Disabling a card only deactivates it temporarily until you decide to re-enable it. Once re-enabled, the card can be used again. Deleting a card deactivates the card permanently. A deleting card is cancelled and cannot be reactivated or used again.
How do I change my 3D secure code?
To change the 3D secure code, click on the virtual card icon, then click the 3 vertical dots in the top right hand corner of the screen, then click "change 3D secure code".
What is the difference between disabling and deleting a virtual card?
Disabling a card only deactivates it temporarily until you decide to re-enable it. Once re-enabled, the card can be used again. Deleting a card deactivates the card permanently. A deleting card is cancelled and cannot be reactivated or used again.
Does Shyft charge a fee to use my virtual card?
No, Shyft does not charge any fees for transacting with the virtual card online. There are also no fees charged for topping up the virtual card.
Can I link my virtual card to Uber?
Unfortunately, the virtual card is not currently supported by Uber, as they do not accept prepaid cards as a form of payment.
How do I know when my virtual cards are expiring?
Your virtual cards are grouped according to expiration status i.e. whether they are “Valid” (green), “About to Expire” (orange) or “Expired” (red).
When a Virtual card is due to expire in 30 days, you will be notified via email and the card status will change to “About to expire”.
When a virtual card has expired, you will be notified via email and the full balance on the card will be automatically transferred from the card to your currency wallet.
You can view your expired cards and get statements for expired cards by selecting the “Expired Cards” option on the side menu screen.
What is the expiry date on a virtual card?
Virtual cards expire 5 years after they are created.
How do I get a statement for my virtual card?
To get a card statement, please do the following:
-Select the relevant card in your currency wallet;
-Click the gear icon in the top right hand corner of the screen;
-Click "Virtual Card Statement”;
-Select the date range you would like the statement for;
-The statement will be emailed to you.
Physical Cards
How do I order a physical card?
Once logged in on the Shyft application and in your wallet, tap on the “Order Physical Card” button. Ensure that you complete all the required fields to have your card delivered to you.
Can I order multiple physical cards?
Yes, each user can order and link up to 3 physical cards. Simply select how many cards you would like to order on the card order screen.
How much does it cost to order a physical card?
The current card fee is R120.00 (incl. VAT) per a card. This is subject to change without notice.
How do I link my Physical Card?
Once you receive your card, login to the app and on the wallet screen, tap the “Link a Physical Card” button. Add the 16-digit number as displayed on the card and tap ok. Once added, you are able to load funds from your foreign exchange wallets to the card and start using it.
How long will it take to get my physical card?
Delivery within major metropolitan areas should be within three business days.
Delivery outside of major metropolitan areas should be within five business days.
How much are the ATM withdrawal fees?
ATM withdrawal fees are charged at a flat rate per a withdrawal. The fees are as follows:
USD: 3.3;
GBP: 2.2;
EUR: 3.3; and
AUD: 4.8.
What are the daily card limits?
POS transactions:
The physical card can be used for a maximum of 25 POS transactions per a day. The sum of the transactions per a day are limited to the following amounts:
USD:13 000;
GBP: 10 000;
EUR: 11 500; and
AUD: 17 000.
ATM withdrawals:
The physical card can be used for a maximum of 12 ATM withdrawals per a day. The sum of the withdrawals per a day are limited to the following amounts:
USD: 2500;
GBP: 1500;
EUR: 2100; and
AUD: 3750.
What are the tap-and-go limits on the card?
Tap-and-go transactions are limited to the following amounts per a transaction:
USD: 50;
GBP: 30;
EUR: 50; and
AUD: 100.
Are there any fees for swiping my physical card?
No, Shyft does not charge any transaction fees for swiping the physical card.
Which ATMs should I use to withdraw cash?
Only withdraw cash from from well-known banks & avoid unbranded or stand alone ATMs.
If prompted by the ATM, never accept conversions to or from a currency that is not loaded on your physical card.
What should I do if my card is not working?
First check that you have topped up the card by transferring funds from your currency wallet to the card. In order to top up your physical card, click the "top up" button next to the physical card icon in the app and select the amount you would like to top the card up with.
If the card stops working, please immediately contact support via the in-app chat or via email at support@getshyft.co.za. Please provide support with the date of the failed transaction, the amount and the name of the merchant/ATM.
How do I change my card pin?
To change the pin, please do the following:
Login to Shyft;
Select the physical card icon in your currency wallet;
Click the 3 dots in the top right-hand corner of the screen; and
Click "change pin”.
What is the difference between disabling and deleting a physical card?
Disabling a card only deactivates it temporarily until you decide to re-enable it. Once re-enabled, the card can be used again. Deleting a card deactivates the card permanently. A deleting card is cancelled and cannot be reactivated or used again.
What should I do if my card is lost or stolen?
Immediately stop the card in the Shyft app by clicking on the card icon, clicking the 3 dots in the top right-hand corner of the screen and select “delete card”. You will then be able to order a new card by clicking on the “order physical card” button.
If the lost/stolen card has been used fraudulently, please contact support and provide them with the details of the fraudulent transactions.
How do I get a statement for my physical card?
To get a card statement, please do the following:
-Select the relevant card in your currency wallet;
-Click the gear icon in the top right hand corner of the screen;
-Click "Physical Card Statement”;
-Select the date range you would like the statement for;
-The statement will be emailed to you.
Security
I lost my phone. What should I do?
Please download the app on a new phone and reset your password immediately.
I'm a little concerned that someone found out my password. What should I do?
Open the application and change your password immediately. To do so, tap on the three lines on the top left corner of the app (menu), and tap on Profile. Scroll down till you see “Change Password”, and tap on it. Put in your old password, enter a new password and confirm the new password followed by tapping on the change password button. **Please ensure that your password is not shared with anyone**
Contact Us
I am stuck, and my question is not answered in this FAQ. How do I get more assistance?
You can reach us via the Live Chat directly from the Shyft app.
To start the Live Chat, tap on the question mark icon in the top right corner of the screen.
Alternatively, you can leave a message for us from the Contact Us page on the Website (getshyft.co.za).
Our consultants are available from 9am to 5pm, Monday - Friday.
Can I speak to a support agent over the phone?
You can request a call back by clicking on the Support icon in the navigation bar, then click the “Request support call back” button. Please fill in your details and the nature of the request, and a support agent will call you back within 24 hours. All requests will be dealt with on a priority basis.
BOP是指支付余额（Balance of Payments)，是提供给南非税务局和相关金融监管机构的报告，
告知所有汇出南非的资金数额及汇款用途。对于拥有有效南非ID的南非永久居民，所有Shyft交易都记录在BOP分类码511
04类别——与投资收入无关的居民外国投资——向境外银行存款。对于外籍人士，所有交易都记录在BOP分类码417类别——外籍合同务工人士汇款——不含补贴。
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